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Grandparents' Donations on the Rise

By Net Assets posted 9 days ago

  

(from the Wall Street Journal) A growing number of U.S. private schools are courting donations from students’ grandparents. The efforts are working: In 2017-18, grandparents donated $42.5 million to annual funds, compared with $38.5 million in 2015-16, according to data from nearly 900 schools provided by the National Association of Independent Schools. The average grandparent gift was $651 in 2017-18, up from $565 in 2015-16. This generation of grandparents is in many ways worse off financially than prior generations, and than younger ones. More than 40 percent of households headed by people aged 55 through 70 lack sufficient resources to maintain their living standard in retirement, but there are still plenty of affluent grandparents who have bucked that trend.

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